which SSS loan do you prefer?

Philippines
October 11, 2011 6:23am CST
i did not avail myself yet for a Social Security Service loan and i'm planning to file a loan this coming days..they say calamity loan is preferred in any case it was made available whenever state of calamity is declared on your area..i did not inquire about it yet but rumors from those who have availed such loan do prefer it than regular salary loan though the latter is more available than calamity loan..i'm looking forward to avail for it this coming holiday season for extra cash, for me to buy a new gadget..guys what can you say about this issue..do you have some idea about this topic, i appreciate your response
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4 responses
• India
11 Oct 11
Normally in any country, the loan is being considered to the people in distress. This loan is some cases interest free or lower interest rate is charged.When you avail it it may be useful for the immediate requirement because of the suffering and loss of items. But, if you are in a position to manage without this loan, you may do so. But, if you intend to avail salary loan, it is better to avail this loan which may be interest free or lower rate of interest.
• Philippines
11 Oct 11
they say salary loan comes with higher interest rate than the calamity loan, but why should i wait for a calamity that's negative i supposed. thanks for our response..
• India
12 Oct 11
Calamity loan is announced only after the calamity happens and there may be some damage in every house and so Government wants the people to come out of the financial crisis at that point of time. It is negative only when you wait for the calamity to happen and then to avail this loan.
@EdnaReyes (2628)
• Philippines
12 Oct 11
I think only those areas hit by calamity can avail calamity loan and SSS is sonewhat strict on this. try to use your salary loan instead as it requires only a few papers works. You can have it sign by your employer and you can get the loan if you do not have existing unpaid loan. I haven't use any loan benefits from my SSS as I am saving it for my retirement. I hope I can get rich out of my contributions interest!
• Philippines
12 Oct 11
don't expect that you'll be disappointed...thanks i think i'll try salary loan..
@chiyosan (30205)
• Philippines
12 Oct 11
i think it is hard to get a calamity loan. usually if they would release it it is up to the location where you live and they have got to declare a "calamity" really happened. maybe you can use the salary loan for now, if you are a long time member you will be able to get a high amount from there. too. goodluck
@yallit (3678)
• Philippines
11 Oct 11
SSS doesn't have a calamity loan. Pag-ibig Fund does.